Palantir's Significant Moment
Plus, Avis Budget's strong demand.
Today is Tuesday, February 14, 2023.
New to this newsletter? Sign up here.
Palantir's Significant Moment
Financial results showed that Palantir Technologies (NYSE: PLTR) is finally profitable, which sent shares up 16.82% in after-hours trading on Monday.
Financials: Palantir reported earnings of 4 cents per share in the quarter and revenue of $508.62 million; both were better than expected.
Big Growth: Total revenues are up 18% year-over-year, including an 11% increase in commercial revenue and a 23% increase in government revenue. The customer count also grew by 55%.
Quote: “With this result, Palantir is profitable. This is a significant moment for us and our supporters.” - Alex Karp, co-founder and CEO of Palantir.
Stock Price: Shares of Palantir are down 42% in the last 12 months, but are up 7% in the last 30 days.
Final Thoughts: Once considered a meme stock, Palantir has recovered to put up positive financials. Although not considered a value stock, Palantir’s position looks impressive to many investors.
Notable Earnings Today: Coca-Cola (NYSE: KO), Devon Energy (NYSE: DVN), Cleveland-Cliffs (NYSE: CLF), Airbnb (Nasdaq: ABNB), Peabody Energy (NYSE: BTU), Upstart (Nasdaq: UPST), Marriott International (Nasdaq: MAR), Nu Holdings (NYSE: NU), Ecolab (NYSE: ECL), Livent (NYSE: LTHM), TransUnion (NYSE: TRU), TripAdvisor (Nasdaq: TRIP), Inmode (Nasdaq: INMD), Suncor Energy (NYSE: SU), Herbalife Nutrition (NYSE: HLF), Herc Holdings (NYSE: JRI), Andersons (Nasdaq: ANDE), Entegris (Nasdaq: ENTG), Nerdwallet (Nasdaq: NRDS), Akamai Technologies (Nasdaq: AKAM), Comstock Resources (NYSE: CRK), Conduent (Nasdaq: CNDT), Godaddy (NYSE: GDDY), GlobalFoundries (Nasdaq: GFS), GXO Logistics (NYSE: GXO), Howmet Aerospace (NYSE: HWM), Restaurant Brands International (NYSE: QSR), Service Corp. (NYSE: SCI), Zoetis (NYSE: ZTS).
Notable IPOs Today: INTENSITY THERAPEUTICS, INC. (Nasdaq: INTS), Mars Acquisition Corp. Unit (Nasdaq: MARXU), Distoken Acquisition Corporation Unit (Nasdaq: DISTU), Bullfrog AI Holdings, Inc. Common Stock (Nasdaq: BFRG).
Notable Equity Crowdfunding Campaigns Ending Today: Voca App (StartEngine).
Notable Economic Events Today: OPEC Monthly Report (7:00 a.m. ET), CPI (8:30 a.m. ET), Core CPI (8:30 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).
Avis Budget Group’s Strong Holiday Travel
Avis Budget Group (Nasdaq: CAR) reported positive financial results on Monday, resulting in the shares rising by 3.54%.
Financials: Avis Budget reported earnings of $10.46 per share in the quarter and revenue of $2.77 billion; both were better than expected.
Details: Revenues in the quarter hit a record. The company attributed its surging revenue due to strong demand from both its commercial business and leisure holiday travel. Avis Budget said that its fourth-quarter demand performed well above 2019 levels.
Stock Price: Shares of Avis Budget Group are up 33% in the last 12 months.
Final Thoughts: It has been several quarters in a row of strong results for Avis Budget. The stock also has a good price-to-earnings ratio, meaning that it’s a value stock.
Curve DAO Token Surges
On a day when the prices of most cryptocurrencies stayed flat or dipped, the price of the Curve DAO Token jumped 12%.
Final Thoughts: It seems that the Curve DAO Token has benefited while the rest of the crypto market deals with the fallout of potential regulation against stablecoins.
Meet new people and explore the world with Babbel (Sponsored)
Going on vacation is great, but exploring the world like a local is even better. Not speaking the language is no longer an excuse: with Babbel, you can learn to speak a new language in just three weeks. The language learning platform offers 10-minute lessons designed by real language experts, focused on conversational skills in 14 languages. Subscribers also have access to accent-perfecting speech recognition technology, live online classes, games, and more to help you build confidence before you board your flight. Sign up today to get up to 60 percent off your subscription.
Trends to Watch
Total 90s Vibes: NBC Sports hopes to make an aggressive bid to bring back the NBA, sources say (CNBC)
Big Drop: G1 Therapeutics to halt drug trial in colon cancer, shares plunge (Reuters)
iRobots Taking Our Jobs: Second round of layoffs hits iRobot as Amazon deal is still pending (The Boston Globe)
Shifting Power: How the SEC Could Reshape Ethereum’s Staking Landscape for the Better (CoinDesk)
Logical: ContextLogic stock soars 40% on Citron bullish tweet (Seeking Alpha)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Be social: Like our Facebook page and follow us on Twitter.
Want more investing tips? Listen to the podcast.
Show Your Support: Buy Me a Coffee.
Questions or comments? Hit reply to reach out.